How to save taxes on capital gains

All of us think about the best means to save taxes. When it comes to real estate, paying the taxes involve a considerable sum of money, which if saved, adds a lot of value to our accounts. For understanding the best possible measures to save taxes, it is important to first understand capital gains. In simple terms, capital gains are the profits earned on selling a capital asset. Explaining the concept on Magicbricks’ user forum, Open House, an expert comments, “Under the provisions contained in the Income-tax Act 1961, capital gains tax...

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Rent agreement: Why only for 11 months?

Ever wondered why rental agreements are made for 11 months? And why it is essential to have a rent agreement? Well, it is important to have a document that safeguards the interest of both the parties. A rent agreement, thus, is the best way to take a cautious approach. First let’s understand what a rent agreement is. “A rental agreement is a legal contract that binds the owner of the property and tenant, which safeguards the interest of both the parties. The landlord must either be the owner of the property or a person having power of attorney...

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Ahmedabad 2nd best affordable city to buy home

Ahmedabad is the second most affordable city to buy home among the top eight cities in India beating Mumbai and Delhi, says a survey. On the scale of affordability to rent, the city is ranked 5th showing higher rental value of the city. Ranking first, Hyderabad is the most affordable city both in terms of buying and renting a home. The other cities in the survey include Pune, Bengaluru, Kolkata and Chennai. According to the survey, individuals who earn more than 12 lakhs per annum should opt for buying a property over renting in Ahmedabad....

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